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From decision problems to dethroned dictators

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  • Kronewetter, Jason
  • Saari, Donald G.
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    Abstract

    Economic models as well as aggregation and decision problems with "holes" in the domain can be difficult to analyze because, unexpectedly, they are related to Arrow's Impossibility Theorem: embedded within the model may be "topological dictators." But, just as it is possible to remove the negative impact of Arrow's dictator by recognizing that the problem is caused by not using crucial, available information (about voter preferences), the obstacles confronting these economic decision problems can be removed by identifying what kind of available information is not being used.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Mathematical Economics.

    Volume (Year): 44 (2008)
    Issue (Month): 7-8 (July)
    Pages: 745-761

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    Handle: RePEc:eee:mateco:v:44:y:2008:i:7-8:p:745-761

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    Web page: http://www.elsevier.com/locate/jmateco

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    1. Chichilnisky, Graciela & Heal, Geoffrey, 1979. "Necessary and sufficient conditions for a resolution of the social choice paradox," MPRA Paper 8495, University Library of Munich, Germany, revised 20 Oct 1981.
    2. Saari, Donald G. & Williams, Steven R., 1986. "On the local convergence of economic mechanisms," Journal of Economic Theory, Elsevier, Elsevier, vol. 40(1), pages 152-167, October.
    3. Saari,Donald G., 2001. "Decisions and Elections," Cambridge Books, Cambridge University Press, Cambridge University Press, number 9780521808163.
    4. Donald G. Saari, 1997. "Informational geometry of social choice," Social Choice and Welfare, Springer, Springer, vol. 14(2), pages 211-232.
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    Cited by:
    1. Luc Lauwers, 2009. "The topological approach to the aggregation of preferences," Social Choice and Welfare, Springer, Springer, vol. 33(3), pages 449-476, September.

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